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Consumer Law

24 Hour Fitness Allegedly Prepares to File for Bankruptcy

Gym chain 24 Hour Fitness Worldwide is reportedly preparing to file for bankruptcy, as retailers and other companies navigate the coronavirus pandemic.

According to The Wall Street Journal and Bloomberg, the company is seeking a loan to allow them to keep operating through a restructuring.

The company has more than $1.3 billion in debt after a buyout by AEA Investors and the Ontario Teachers’ Pension Plan, reports Bloomberg.

Read the source article at USA TODAY

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